Solar City Secures $60,000,000 New Financing
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=88ee7e44-02cc-43f9-add0-a300dfc49b7e&Preview=1 -
Date
1/22/2010 -
Company Name
Solar City -
Mailing Address
393 Vintage Park Drive Foster City, CA 94404 -
Company Description
SolarCity matches advanced solar power technology with a suite of installation services. The company’s comprehensive offering removes the technical, regulatory, and financing barriers to solar power, helping customers make smart renewable energy choices that save money. Boasting the industry’s most experienced team in solar systems design and installation and a proven track record of bringing new technologies to market, SolarCity is uniquely positioned to make solar power a practical choice for home owners and businesses. -
Website
http://www.solarcity.com -
Transaction Type
Venture Equity -
Transaction Amount
$60,000,000 -
Transaction Round
Undisclosed -
Proceeds Purposes
The solar systems funded under the agreement are expected to be installed in 2010, predominantly in California, with some in Arizona and Colorado. SolarCity already has more than 1,700 solar customers in Pacific Gas and Electric Company’s service area and more than 5,000 solar customers overall. -
M&A Terms
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Venture Investor
Undisclosed
